Archrock (NYSE:AROC) Research Coverage Started at Citigroup

Citigroup assumed coverage on shares of Archrock (NYSE:AROC) in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $24.00 price objective on the energy company’s stock.

AROC has been the subject of a number of other reports. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an outperform rating and a $24.00 target price for the company. Stifel Nicolaus upped their price objective on shares of Archrock from $23.00 to $25.00 and gave the company a buy rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. started coverage on shares of Archrock in a research note on Friday, September 6th. They issued an overweight rating and a $24.00 target price on the stock. StockNews.com lowered Archrock from a buy rating to a hold rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $22.00 price objective on shares of Archrock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $22.33.

Archrock Price Performance

Archrock stock opened at $20.24 on Friday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 24.39 and a beta of 1.51. The company’s fifty day moving average price is $19.92 and its 200 day moving average price is $19.97. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. Archrock has a 1 year low of $11.73 and a 1 year high of $23.44.

Archrock (NYSE:AROC) last released its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Archrock had a return on equity of 16.35% and a net margin of 13.20%. The business had revenue of $270.53 million for the quarter, compared to the consensus estimate of $270.61 million. As a group, equities research analysts anticipate that Archrock will post 1.07 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Tuesday, August 6th. Archrock’s dividend payout ratio is presently 79.52%.

Hedge Funds Weigh In On Archrock

A number of hedge funds have recently modified their holdings of the business. UniSuper Management Pty Ltd purchased a new position in shares of Archrock during the 1st quarter worth approximately $852,000. Sei Investments Co. boosted its position in shares of Archrock by 37.7% during the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock worth $78,753,000 after buying an additional 1,399,309 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Archrock by 302.9% during the fourth quarter. Allianz Asset Management GmbH now owns 912,784 shares of the energy company’s stock worth $14,057,000 after buying an additional 686,242 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Archrock by 18.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,270,818 shares of the energy company’s stock valued at $24,997,000 after buying an additional 195,549 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Archrock by 77.2% in the 1st quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock valued at $1,377,000 after buying an additional 30,493 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.